Record mining spending recorded in Northern Region of NSW
Results from the latest NSW Minerals Council’s Member Expenditure Survey have confirmed mining’s continued critical economic contribution to the Northern region of NSW, including the New England communities of Narrabri, Boggabri, Gunnedah, Tamworth and surrounding areas.
In the last financial year, participating mining companies directly injected $424 million into the Northern region economy in the last financial year - an increase of nearly $84 million on the previous year and the highest level of spending recorded in over a decade.
This is the fourth year in a row that direct mining spending in the region has been over $300 million.
The same companies also supported 2,479 jobs in the Northern region. While this was a fall from the previous financial year, the latest result represented an increase of more than 1,400 more jobs compared to the first time the survey was taken in the 2011-12 financial year.
The $424 million of direct mining spending in the Northern region in the last financial year included almost $216 million on wages and salaries, and $208 million for goods and services purchased from over 548 mining supplier businesses.
The survey also found that mining made a strong direct contribution across local government areas (LGAs) in the New England region. In the Tamworth LGA mining provided 308 jobs, directly spent $74 million in the region and supported 113 local supply businesses.
In the Gunnedah LGA mining provided 968 jobs, directly spent $220 million in the region and supported 968 local supply businesses while in the Narrabri LGA mining provided 1055 jobs, directly spent $88 million and supported over 115 local supply businesses.
An economic analysis of these results found the $424 million of direct mining spending in the region in the last financial year contributed 5.3% of the GRP of the region’s economy during this period.
“Mining spending in the Northern region of NSW is at record levels, while also supporting thousands of jobs, highlighting the importance of mining for local communities and the region’s economy,” NSW Minerals Council CEO Stephen Galilee said today.
“These strong results are a timely reminder of the need for policies that support a strong mining sector for the future of the Northern region of NSW.”
ATTACHMENT - Graphs: Northern - total spending, workforce and supplier businesses 2011/12 - 2022/23
ENDS
Brad Emery | NSW Minerals Council | bemery@nswmining.com.au | 0450620254
